In the marijuana space this week, two of Canada’s big-name cannabis producers provided updates on their respective beverage businesses.

The opportunity attached to cannabis drinks has fluctuated from mere fad to potentially key for the industry, and now Aphria (NASDAQ:APHA,TSX:APHA) and Canopy Growth (NYSE:CGC,TSX:WEED) are ready to share more about their plans.


Keep reading to find out more cannabis highlights from the past five days.

 

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Aphria and Canopy make beverage moves

In an unexpected move, Aphria has elected to acquire SweetWater Brewing Company in a deal that according to the producer is worth US$300 million. The Aphria management team wasn’t shy in confirming this acquisition was done in anticipation of an entry into the US market.

“We will establish and grow our US presence through SweetWater’s robust, profitable platform of craft brewing innovation, manufacturing, marketing and distribution expertise,” Irwin Simon, Aphria’s chairman and CEO, said in a statement.

The executive explained that Aphria plans to leverage its existing brand portfolio with the sole intention of building awareness ahead of potential legalization in the country, which would allow it to enter the market.

Freddy Bensch, SweetWater’s founder and CEO, said his firm has brands that complement Aphria’s cannabis business. The brewing company has moved ahead in experimenting with craft brews using terpenes and hemp flavors to recreate “flavors and aromas of popular cannabis strains.”

Meanwhile, fellow Canadian producer Canopy Growth indicated this week that it plans to upsize its offerings with a new lineup of CBD drinks called Quatreau. The lineup will include four different flavors, and will be the first primary CBD drink collection from Canopy Growth.

“We created Quatreau as an alternative to sugary, caffeinated beverages or even alcohol,” David Klein, CEO of Canopy Growth, said in a statement.

Earlier this year, analysts at CIBC Capital Markets issued a note to investors saying they don’t expect to see cannabis drinks evolve into a leading marketplace item for consumers until regulations change around their availability. Until then, the analysts believe these beverage offerings will remain a niche product.

Cannabis company news

  • TerrAscend (CSE:TER,OTCQX:TRSSF) went ahead and released preliminary results from its latest quarter, indicating net sales of C$51 million.
  • PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) upsized a planned placement offering from C$5 million to C$10 million. The company will issue 20 million shares at a price of C$0.50 each.
  • The Valens Company (TSX:VLNS,OTCQX:VLNCF) confirmed that its subsidiary has obtained wholesale licenses to begin offering medical cannabis products in Australia.
  • 48North Cannabis (TSXV:NRTH) released year-end results for its 2020 fiscal year and provided guidance for the first quarter of its 2021 fiscal year.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

 

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Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Ayurcann (CSE:AYUR) entered into a joint venture with Bazelet Group, Israel’s largest privately held medical cannabis company. Ayurcann CEO Igal Sudman shared the company’s excitement about bringing unique terpene-enriched medicinal cannabis to the Canadian marketplace. 

“Canada is a very closed-loop country, and the opportunity to bring a variety of different enhancement and technologically advanced products is very important to us. The relationship that we formed with Bazelet is going to enhance our offerings into the Canadian marketplace,” Sudman said. 

Bazelet has launched multiple lines of terpene-enriched cannabis oils; each one is specifically designed for various indications, symptoms and personal needs. The company’s terpene-enriched products are optimized for women’s health, for elderly population needs, for specific types of pains (muscle, joint, neuropathic) and for improved night sleep. 

According to Sudman, there are a lot of larger companies that have tried to do this, but none have been able to successfully bring innovation into the market. Ayurcann is rapidly forging partnerships with several companies worldwide, including Cannmart, Patient Choice and Kindred Partners.

“We’re growing the business, customer base, relationships and partnerships worldwide. We’re bringing the latest technology into Canada, and enhancing not only our company, but the investors’ value moving forward,” added Sudman. 

Watch the full interview with Ayurcann CEO Igal Sudman above.

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Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a new Florida dispensary, the Company’s 91st nationwide.

The latest dispensary, located in Winter Park , supports Trulieve’s goal of ensuring medical cannabis patients across Florida have safe, reliable access to the medications they rely on. The dispensary expands access throughout Central Florida , joining four locations throughout nearby Orlando .

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Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf”, “OILS”, or the “Company”), the world’s most innovative cannabis extractor, is pleased to announce that the United States Patent and Trademark Office has granted the Company a patent pertaining to the extraction and purification of THC and CBD.

The Company believes it has developed defendable intellectual property around the most efficient methods for producing THC and CBD distillate at scale within a regulated market. Nextleaf owns 15 U.S. patents and has been issued over 80 patents globally.

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Cannabis Company Executives share vision, answer questions live at VirtualInvestorConferences.com

Virtual Investor Conferences in partnership with KCSA Strategic Communications and ATB Capital Markets today announced the agenda for the upcoming Cannabis Industry Virtual lnvestor Conference. Individual investors, institutional investors, advisors and analysts are invited to attend. The two-day program begins at 9:30 AM ET on Tuesday June 29 th .

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Acquisition solidifies Canopy Growth’s leadership position in the Canadian recreational market

Canopy Growth Corporation (“Canopy”) (TSX: WEED) (NASDAQ: CGC) and The Supreme Cannabis Company, Inc. (“Supreme”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) are pleased to announce the completion of the previously announced arrangement (the “Arrangement”) whereby Canopy has acquired all of the issued and outstanding common shares of Supreme (the “Supreme Shares”).

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